Mirati's Sitravatinib Flunks Phase 3 Combo Therapy Study In Type Of Lung Cancer Setting

  • Mirati Therapeutics Inc's MRTX SAPPHIRE study did not meet its primary endpoint of overall survival at the final analysis
  • SAPPHIRE is a Phase 3 study evaluating sitravatinib plus Bristol-Myers Squibb Co's BMY Opdivo (nivolumab) versus docetaxel in patients with second or third-line advanced non-squamous non-small cell lung cancer who progressed on prior therapy. 
  • The company plans to disclose the study data at a future date.
  • Principal Investigators will be given the option to continue therapy for patients experiencing clinical benefit and who would like to remain on treatment.
  • BeiGene Ltd BGNE paid Mirati $10 million upfront in 2018 for exclusive rights in the Asia-Pacific region, with another $123 million in milestone payments and sales-based royalties.
  • In 2019, Mirati Therapeutics announced a clinical collaboration with Bristol-Myers to evaluate the combination of sitravatinib and nivolumab.
  • In December, the FDA granted accelerated approval to Mirati's Krazati (adagrasib), a targeted treatment option for adult patients with KRASG12C-mutated locally advanced or metastatic non-small cell lung cancer.
  • Price Action: MRTX shares are trading 6.48% lower at $41 during the premarket session on the last check Thursday.
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